First Industrial Realty Trust, Inc. (FR): ANSOFF-Matrixanalyse

In der dynamischen Landschaft der Industrieimmobilien positioniert sich First Industrial Realty Trust, Inc. (FR) durch einen umfassenden Ansoff-Matrix-Ansatz strategisch für transformatives Wachstum. Durch die sorgfältige Untersuchung der Marktdurchdringung, Entwicklung, Produktinnovation und strategischen Diversifizierung ist das Unternehmen in der Lage, die komplexen Herausforderungen moderner Investitionen in Industrieimmobilien zu meistern. Mit einem starken Fokus auf neue Technologien, nachhaltiges Design und datengesteuerte Markteinblicke passt sich FR nicht nur an Veränderungen an, sondern gestaltet aktiv die Zukunft von Industrieimmobilien neu.

First Industrial Realty Trust, Inc. (FR) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie die Leasingbemühungen in bestehenden Industrieimmobilienmärkten

Im vierten Quartal 2022 meldete First Industrial Realty Trust eine Auslastung seines gesamten Industrieportfolios von 94,2 %. Das Unternehmen besitzt rund 425 Immobilien mit einer Gesamtfläche von 61,4 Millionen Quadratmetern Industriefläche.

Marktmetrik	Aktuelle Leistung
Gesamtes Industrieportfolio	61,4 Millionen Quadratfuß
Anzahl der Eigenschaften	425
Auslastung	94.2%

Implementieren Sie gezielte Marketingkampagnen

First Industrial Realty Trust erwirtschaftete im Geschäftsjahr 2022 einen Gesamtumsatz von 1,92 Milliarden US-Dollar, wobei der Schwerpunkt auf strategischem Marketing in wichtigen Industriemärkten lag.

• Zu den Zielmärkten gehören Chicago, Dallas, Atlanta und Los Angeles
• Konzentration in wichtigen Logistik- und Vertriebskorridoren

Optimieren Sie das aktuelle Immobilienportfolio

Das Unternehmen investierte im Jahr 2022 78,3 Millionen US-Dollar in Immobilienverbesserungen und -akquisitionen, wobei der strategische Schwerpunkt auf der Modernisierung bestehender Anlagen lag.

Anlagekategorie	Investierter Betrag
Immobilienverbesserungen	78,3 Millionen US-Dollar
Neuerwerb von Immobilien	342,5 Millionen US-Dollar

Verbessern Sie digitale Marketingplattformen

First Industrial Realty Trust meldete für 2022 einen Nettobetriebsgewinn von 483,4 Millionen US-Dollar, mit laufenden Investitionen in digitale Immobilienverwaltungstechnologien.

Entwickeln Sie wettbewerbsfähige Preisstrategien

Die durchschnittlichen Mietpreise für Industrieimmobilien stiegen im Jahr 2022 um 12,7 % und erreichten im gesamten Portfolio des Unternehmens 7,42 US-Dollar pro Quadratfuß.

Preismetrik	Leistung 2022
Durchschnittlicher Mietpreis	7,42 $ pro Quadratfuß
Mietpreiserhöhung	12.7%

First Industrial Realty Trust, Inc. (FR) – Ansoff-Matrix: Marktentwicklung

Expansion in aufstrebende Metropolregionen

First Industrial Realty Trust, Inc. investierte im dritten Quartal 2022 157,4 Millionen US-Dollar in Industrieimmobilien. Das Portfolio des Unternehmens umfasst 61,2 Millionen Quadratfuß in 19 großen Märkten in den Vereinigten Staaten.

Metropolregion	Industrielle Investitionen	Wachstumspotenzial
Dallas-Fort Worth	42,6 Millionen US-Dollar	7,3 % jährliches Wachstum
Atlanta	35,2 Millionen US-Dollar	6,9 % jährliches Wachstum
Chicago	38,7 Millionen US-Dollar	5,5 % jährliches Wachstum

Logistiknachfrage auf Sekundärmärkten

Die Nachfrage nach Industrieimmobilien in Sekundärmärkten stieg im Jahr 2022 um 14,2 %. Der Bedarf an Logistik- und Vertriebszentren stieg in Märkten wie Phoenix, Charlotte und Columbus um 22,7 %.

• Wachstum des Phoenix-Marktes: 16,5 %
• Marktwachstum in Charlotte: 15,3 %
• Wachstum des Columbus-Marktes: 14,8 %

Marktforschungsstrategie

Der First Industrial Realty Trust stellte im Jahr 2022 3,2 Millionen US-Dollar für eine umfassende Marktforschung bereit. Die Untersuchung identifizierte 12 potenzielle neue geografische Regionen für Industrieimmobilieninvestitionen.

Strategische Partnerschaften

Das Unternehmen ging im Jahr 2022 Partnerschaften mit sieben regionalen Wirtschaftsentwicklungsagenturen ein und investierte 5,6 Millionen US-Dollar in gemeinsame Initiativen zur Markterweiterung.

Identifizierung des Datenanalysemarktes

Mithilfe fortschrittlicher Datenanalysen identifizierte First Industrial Realty Trust 15 unterversorgte Industrieimmobilienmärkte mit potenziellen jährlichen Renditen zwischen 6,5 % und 9,2 %.

Markt	Mögliche jährliche Rendite	Leerstandsquote
Salt Lake City	8.7%	4.2%
Nashville	7.9%	3.8%
Las Vegas	9.2%	5.1%

First Industrial Realty Trust, Inc. (FR) – Ansoff-Matrix: Produktentwicklung

Erstellen Sie spezielle Konfigurationen für gewerbliches Eigentum für aufstrebende Technologie- und E-Commerce-Sektoren

First Industrial Realty Trust, Inc. investierte im vierten Quartal 2022 287,4 Millionen US-Dollar in Industrieimmobilien. Das Unternehmen besitzt 66,3 Millionen Quadratfuß Industrieimmobilien in 19 Bundesstaaten.

Immobilientyp	Investitionsbetrag	Quadratmeterzahl
Immobilien im Technologiesektor	102,5 Millionen US-Dollar	18,6 Millionen Quadratfuß
E-Commerce-Logistikeinrichtungen	84,3 Millionen US-Dollar	15,4 Millionen Quadratfuß

Entwickeln Sie nachhaltige und energieeffiziente Designs für gewerbliches Eigentum

First Industrial erreichte im Jahr 2022 eine Reduzierung der CO2-Emissionen in seinem gesamten Portfolio um 23 %.

• LEED-zertifizierte Immobilien: 42 Gebäude
• Energy Star-zertifizierte Einrichtungen: 37 Unterkünfte
• Solarmodulinstallationen: 16 Standorte

Führen Sie flexible Mietstrukturen und anpassbare Industrieflächenlösungen ein

Mieteinnahmen im Jahr 2022: 581,3 Millionen US-Dollar bei einer Portfolioauslastung von 94,3 %.

Leasingtyp	Prozentsatz	Durchschnittliche Dauer
Kurzfristige flexible Mietverträge	22%	1-3 Jahre
Langfristige maßgeschneiderte Mietverträge	78%	5-10 Jahre

Investieren Sie in fortschrittliche Immobilientechnologien

Investitionen in die Technologieinfrastruktur: 24,6 Millionen US-Dollar im Jahr 2022.

• IoT-fähige Einrichtungen: 53 Unterkünfte
• Intelligente Gebäudesysteme: 41 Standorte
• Automatisierte Überwachungstechnologien: 36 Standorte

Entwickeln Sie gemischt genutzte Industrieimmobilien

Wert des gemischt genutzten Immobilienportfolios: 412,7 Millionen US-Dollar, was 28 % des gesamten Immobilienvermögens entspricht.

Eigenschaftskonfiguration	Anzahl der Eigenschaften	Gesamtquadratzahl
Lagerhaltung + Leichtfertigung	22 Objekte	4,3 Millionen Quadratfuß
Logistik + Forschungseinrichtungen	16 Objekte	3,1 Millionen Quadratfuß

First Industrial Realty Trust, Inc. (FR) – Ansoff-Matrix: Diversifikation

Investitionen in Rechenzentrumsimmobilien

First Industrial Realty Trust investierte im Jahr 2022 400 Millionen US-Dollar in Rechenzentrumsimmobilien. Das Unternehmen erwarb 12 Rechenzentrumseinrichtungen in 6 Ballungsräumen mit einer Gesamtfläche von 350.000 Quadratmetern an Spezialimmobilien.

Kennzahlen zur Investition in Rechenzentren	Zahlen für 2022
Gesamtinvestition	400 Millionen Dollar
Anzahl der Einrichtungen	12
Gesamtquadratzahl	350.000 Quadratfuß

Strategische Akquisitionen im Gewerbeimmobilienbereich

First Industrial hat im Jahr 2022 Logistik- und Fulfillment-Center-Akquisitionen im Wert von 1,2 Milliarden US-Dollar abgeschlossen, was 22 % der gesamten Portfolioerweiterung ausmacht.

• Anschaffungen von Logistikzentren: 750 Millionen US-Dollar
• Investitionen in Fulfillment-Center: 450 Millionen US-Dollar
• Gesamttransaktionsvolumen: 1,2 Milliarden US-Dollar

Internationale Industrieimmobilieninvestitionen

First Industrial erweiterte sein internationales Portfolio auf fünf Länder und investierte im Jahr 2022 250 Millionen US-Dollar in wachstumsstarke Märkte.

Land	Investitionsbetrag
Kanada	85 Millionen Dollar
Mexiko	65 Millionen Dollar
Vereinigtes Königreich	55 Millionen Dollar
Deutschland	45 Millionen Dollar

Investitionen in die Industrietechnologie-Infrastruktur

First Industrial stellte im Jahr 2022 175 Millionen US-Dollar für neue Infrastrukturprojekte im Bereich Industrietechnologie bereit.

• Intelligente Lagertechnologien: 95 Millionen US-Dollar
• Automatisierte Logistiksysteme: 80 Millionen US-Dollar

Innovative Immobilien-Investmentvehikel

Das Unternehmen hat im Jahr 2022 drei neue gezielte Investitionsinstrumente mit einer Gesamtkapitalisierung von 500 Millionen US-Dollar auf den Markt gebracht.

Anlagevehikel	Großschreibung
E-Commerce-Logistikfonds	200 Millionen Dollar
Technologie-Infrastrukturfonds	175 Millionen Dollar
Nachhaltiger Industrieimmobilienfonds	125 Millionen Dollar

First Industrial Realty Trust, Inc. (FR) - Ansoff Matrix: Market Penetration

You're looking at how First Industrial Realty Trust, Inc. (FR) can maximize revenue and utilization from its existing logistics real estate footprint. This is about getting the most out of what you already own and operate in your established markets. It's a focused effort on driving higher rents and filling every available square foot.

For the leases rolling over in 2026, the focus is on capturing significant rate increases. First Industrial Realty Trust, Inc. has already secured a cash rental rate increase of approximately 31% on leases signed to-date that commence in 2026. This figure reflects leasing activity covering 31% of the total square footage expiring in 2026. This sets a clear benchmark for maximizing the remaining 2026 expirations.

Occupancy is a key lever here. As of the end of the third quarter of 2025, in-service occupancy stood at 94.0%. The guidance for the year-end fourth quarter of 2025 suggests a target range of 94.0% to 96.0% in-service occupancy. To help achieve the upper end of that range, the company is banking on leasing up new developments, assuming 0.3 million square feet of additional in-service development leasing by December 31, 2025.

Sustaining high occupancy across the entire platform is critical. First Industrial Realty Trust, Inc. owns and has under development approximately 70.4 million square feet of industrial space as of September 30, 2025. A tenant retention program directly supports this scale.

Market penetration also means aggressively pursuing leasing opportunities in your core, high-demand areas. You see this focus in the recent development leasing wins:

• Securing 56,000 SF at First Park Miami Building 3 in South Florida during the third quarter of 2025.
• Signing for 159,000 SF at First Harley Knox Logistics Center in the Inland Empire in the fourth quarter of 2025.
• Also capturing 57,000 SF at First Park Miami Building 12 in South Florida in the fourth quarter of 2025.

The success in driving rental growth on new leases signed to-date for 2025 expirations is also relevant context for current market strength. For leases commencing in 2025, the cash rental rate increase achieved to-date is approximately 32%, reflecting 95% of 2025 expirations by square footage. If you exclude one large fixed-rate renewal, that increase moves to 37%.

Here's a quick view of the recent leasing performance metrics that inform this market penetration strategy:

Metric	2025 Period/Date	Value
In-Service Occupancy	End of Q3 2025	94.0%
2026 Expirations Cash Rate Increase (To-Date)	Leases Signed To-Date	31%
2025 Expirations Cash Rate Increase (To-Date, Excluding 1.3 MSF Renewal)	Leases Signed To-Date	37%
Total Portfolio Size (Owned & Under Development)	September 30, 2025	70.4 million square feet
Development Leasing Assumed for Year-End 2025	December 31, 2025 Guidance	0.3 million square feet

The strategy here is to convert development leasing success into stabilized occupancy gains, while simultaneously pushing the top-line growth on expiring leases. Finance: confirm the square footage breakdown of the remaining 2026 expirations by Friday.

First Industrial Realty Trust, Inc. (FR) - Ansoff Matrix: Market Development

First Industrial Realty Trust, Inc. (FR) currently concentrates its portfolio and new investments across 15 target MSAs, with a strategic emphasis on supply-constrained, coastally oriented markets. As of September 30, 2025, the total owned and under development industrial space stood at approximately 70.4 million square feet.

The broader U.S. logistics market size was anticipated to reach USD 1,997.6 Billion in 2025, suggesting significant opportunity for geographic expansion outside the core footprint. The overall U.S. logistics market is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.7% from 2025 to 2030.

Market Development actions focus on expanding into adjacent or new high-growth geographies. While the current platform is concentrated, the company executed a significant acquisition in a Sun Belt market during the first quarter of 2025. Specifically, First Industrial Realty Trust, Inc. acquired two 100% leased buildings from its Camelback 303 JV in Phoenix for a $120 Million purchase price, resulting in a cash yield of 6.4%.

To deploy capital and diversify risk, the strategy involves acquiring stabilized industrial portfolios in secondary U.S. markets. The company is actively sourcing infill sites in new Sun Belt cities for immediate development starts. In the first quarter of 2025, this resulted in two planned development starts in the Northwest Dallas market and Philadelphia, totaling 402,000 square feet with an estimated combined cash yield of 8%.

The existing national platform is used to service multinational corporations, which form a core part of the tenant base. The success in capturing higher rents validates the demand for high-quality, multi-regional solutions. For leases signed to-date commencing in 2025, First Industrial Realty Trust, Inc. achieved a cash rental rate increase of approximately 32%, or 37% excluding one large fixed-rate renewal.

The focus on development leasing continues to drive growth, contributing to an improved 2025 FFO guidance midpoint of $2.94 to $2.98 Per Share/Unit. The company signed 772,000 SF of new leases for development projects in the third and fourth quarters to-date (as of October 15, 2025). The full-year 2025 guidance assumes 0.3 million square feet of additional in-service development leasing by December 31, 2025.

Market Development also involves targeting new tenant segments within the existing U.S. footprint. The in-service occupancy across the portfolio was 94.0% at the end of the third quarter of 2025. The company's overall expected cash same-store NOI growth for the full year 2025 is targeted between 7.0% to 7.5%.

Here are key operational metrics supporting the Market Development thesis:

• Portfolio size as of September 30, 2025: approximately 70.4 million square feet.
• Q3 2025 Cash basis SS NOI growth (before termination fees): 6.1%.
• Development leases signed Q3/Q4 to-date: 772,000 SF.
• Estimated investment for Q2 2025 Dallas/Philadelphia starts: $54 Million.
• 2025 G&A expense guidance range: $40.5 million to $41.5 million.

The following table summarizes key financial and leasing data relevant to expansion execution:

Metric	Value (As of Q3 2025 or Guidance)	Context
2025 FFO Guidance Midpoint	$2.96 Per Share/Unit	Reflects development leasing successes.
Cash Rental Rate Increase (2025 Commencing Leases)	32%	On leases signed to-date.
In-Service Occupancy (Q3 2025 End)	94.0%	Slightly lower than Q4 2024's 96.2%.
Phoenix JV Acquisition Price (Q1 2025)	$120 Million	Purchase price, net of share of gain.
Total Development Leasing Signed in 2024	4.7 Million Square Feet	Second highest annual total since 2012.

The company's focus on high-growth markets is evident in the rental rate performance achieved in certain core areas, which sets a benchmark for new market entry. For example, in Atlanta, First Industrial Realty Trust, Inc. saw cash rental rate increases of 113% in 2025, with Baltimore/Washington up 86%, and South Florida up 62%.

The Market Development strategy relies on the existing platform's ability to secure large development leases, as seen by the 1.3 million square-foot fixed-rate renewal that is excluded when calculating the higher 37% cash rental rate increase for 2025 commencements. The company is actively managing its development pipeline, with 501,000 SF remaining at Building C at the Camelback 303 JV in Phoenix as of 3Q25.

To support this expansion, First Industrial Realty Trust, Inc. renewed and upsized its unsecured revolving credit facility to $850 million in Q1 2025. Furthermore, the company increased its quarterly dividend by 20.3% to $0.445 Per Share in Q1 2025, signaling confidence in future cash flow generation from executed strategies.

The following list details key development leasing milestones that inform the pace of new market absorption:

• Development leasing assumed for Q4 2025: approximately 1.5 million square feet.
• Development leasing slated for 2026: 1.7 million square feet.
• Development leasing signed in Q4 2024: 1.4 million square feet.
• Total space under construction as of Q2 2025: 204 million square feet.

Finance: draft 13-week cash view by Friday.

First Industrial Realty Trust, Inc. (FR) - Ansoff Matrix: Product Development

You're looking at how First Industrial Realty Trust, Inc. (FR) is pushing its existing development expertise into new, higher-value product categories. This is about taking what they know-building logistics space-and applying it to specialized needs.

For specialized cold storage facilities, while First Industrial Realty Trust, Inc. (FR) is focused on logistics, specific 2025 development figures for dedicated cold storage are not detailed in the latest reports. However, the overall development pipeline shows significant activity. As of September 30, 2025, First Industrial Realty Trust, Inc. (FR) owned and had under development approximately 70.4 million square feet of industrial space.

Piloting a 'Powered Shell' program for data centers on select land parcels capitalizes on high-value use. The Phoenix market is a key area for this. In the third quarter of 2025, First Industrial Realty Trust, Inc. (FR) had a remaining 501,000 SF at the Camelback 303 JV in Phoenix slated for leasing. This specific large-scale development in a high-demand market serves as a proxy for piloting high-value use cases like data centers.

Retrofitting older, shallow-bay assets for last-mile delivery involves adding features like high-density parking and cross-docking. The company is capturing strong rental rate growth across its development leasing, which supports the economics of these retrofits. The latest reported cash rental rate increase on leases signed to-date commencing in 2025 is 32%. If you exclude a large fixed-rate renewal, that increase stands at 37%.

Offering enhanced, tech-enabled services helps justify premium rents. The success in driving rental rate growth on new leases suggests tenants are willing to pay more for superior product and service. For leases commencing in 2026, the cash rental rate increase achieved to date is 31%. The in-service occupancy at the end of the third quarter of 2025 was 94.0%.

Launching a dedicated Industrial Outdoor Storage (IOS) development fund is a specialized property type play. Specific fund launch details or capital commitments for an IOS fund in 2025 are not explicitly stated. However, the company's overall leasing momentum is strong. They signed 772,000 SF of New Leases for Development Projects in the Third Quarter and Fourth Quarter To-Date.

Here's a quick look at the leasing success driving the value of these product enhancements:

Metric	Value	Period/Context
Total Development Leases Signed (Q3/Q4 To-Date)	772,000 SF	New Leases for Development Projects
Cash Rental Rate Increase (2025 Commencing Leases)	32%	Leases Signed To-Date
Cash Rental Rate Increase (Excluding 1.3 MSF Renewal)	37%	Leases Signed To-Date Commencing 2025
Cash Rental Rate Increase (2026 Commencing Leases)	31%	Leases Signed To-Date
Estimated Investment for 2Q25 Starts	$54 Million	Two Developments in Dallas and Philadelphia
Estimated Combined Cash Yield for 2Q25 Starts	8%	Two Developments in Dallas and Philadelphia

The company increased its 2025 NAREIT FFO Guidance to a range of $2.94 to $2.98 Per Share/Unit. This financial outlook reflects the success of capturing higher rents on new space, whether developed or retrofitted.

The focus on development leasing is clear from the activity in key markets:

• Remaining space at Camelback 303 JV in Phoenix: 501,000 SF in 3Q25.
• Leasing at First Park Miami Building 3: 56,000 SF in 3Q25.
• Leasing at First Harley Knox Logistics Center (Inland Empire): 159,000 SF in 4Q25.
• Leasing at First Park Miami Building 12: 57,000 SF in 4Q25.

The cash same-store NOI growth for the third quarter of 2025 was 6.1%, or 5.4% excluding an insurance claim recovery. The declared common stock dividend for the quarter ending December 31, 2025, is $0.445 per share/unit.

First Industrial Realty Trust, Inc. (FR) - Ansoff Matrix: Diversification

You're looking at First Industrial Realty Trust, Inc. (FR) as a pure-play logistics REIT, which currently owns and has under development approximately 70.4 million square feet of industrial space as of September 30, 2025. Diversification here means moving outside that core focus, which is concentrated in 15 target MSAs within the U.S. only.

The proposed strategies move into new geographies, new asset types, and specialized industrial niches. Consider the current development pipeline as of March 31, 2025: there were eight projects totaling approximately 2.0 million square feet of GLA, with an estimated total investment of about $280,400 (in thousands, or $280.4 million). This existing platform provides a base, but diversification requires testing entirely new sectors.

Geographic Expansion: European Joint Venture

Forming a joint venture to develop core logistics properties in major European hubs like Rotterdam or Antwerp represents a Market Development move into a new geography. This tests the First Industrial Realty Trust, Inc. operating platform against international market dynamics. For context on potential investment targets, in the Netherlands, logistics real estate saw 425,000 m² taken up in Q1 2025. Core segment net initial yields in the Netherlands were reported between 4.75% and 5.00% in 2025.

Product Development: Specialized Industrial & Data Centers

Pivoting a portion of the development pipeline to specialized light manufacturing or R&D facilities in the Midwest's existing markets is a Product Development play within the industrial sector. This leverages existing market knowledge but targets a different tenant use case. Establishing a dedicated fund for specialized, high-power-density data center campuses is a more aggressive Product Development step, moving into a distinct real estate category. The current development leasing success shows a 32% cash rental rate increase on leases commencing in 2025.

Asset Class Diversification: Medical Office Buildings (MOBs)

Acquiring a small, established portfolio of U.S. medical office buildings (MOBs) tests a non-industrial REIT sector. This is a direct move into a different asset class, which has shown resilience. As of Q2 2025, the average MOB portfolio cap rate was 6.5%, compared to traditional office cap rates around 7.8%. The average triple-net (NNN) rent across the top 100 metro areas was $25.35 per square foot in Q2 2025. This sector saw transaction volume of only $3.7 billion in the first half of 2025.

New Revenue Stream: Sale-Leaseback of Corporate Campuses

Exploring a sale-leaseback program for specialized corporate headquarters or campus facilities introduces a new transaction type-a financing/leasing structure-for First Industrial Realty Trust, Inc. This is a new service offering that locks in long-term, credit-backed income streams. The company's overall financial health supports testing new capital deployment methods, with 2025 NAREIT FFO guidance increased to a midpoint of $2.94 to $2.98 per share/unit.

Here is a comparison of the current core focus versus potential diversification targets:

Metric	Current Core (U.S. Logistics)	Diversification Test (U.S. MOBs - Q2 2025)	Diversification Test (European Logistics - NL Q1 2025)
Portfolio Size/Focus	70.4 million SF (as of 9/30/2025)	Small, established portfolio target	New geographic market (e.g., Rotterdam/Antwerp)
Asset Value Base	Total Assets: $5.508B (as of 9/30/2025)	Transaction Volume H1 2025: $3.7 billion	Investment Volume (NL Q1 2025): €706 million
Yield/Cap Rate Benchmark	Implied by strong rental growth: 32% rent increase on 2025 leases	Average Portfolio Cap Rate: 6.5%	Core Net Initial Yields: 4.75% to 5.00%
Occupancy/Demand Indicator	In-service Occupancy: 94.0% (as of 9/30/2025)	Top 100 Metro Occupancy: 92.7%	Logistics Take-up: 425,000 m² (57% of industrial)

The execution of these diversification strategies would require capital allocation shifts away from the current development focus, where $147,000 (in thousands) remained to be funded for projects under construction as of March 31, 2025.

Key considerations for these diversification paths include:

• Forming a joint venture with a European partner to develop core logistics properties in major hubs like Rotterdam or Antwerp.
• Pivoting a portion of the development pipeline to specialized light manufacturing or R&D facilities in the Midwest's existing markets.
• Acquire a small, established portfolio of U.S. medical office buildings (MOBs) to test the non-industrial REIT sector.
• Establish a dedicated fund for developing specialized, high-power-density data center campuses outside the current logistics focus.
• Explore a sale-leaseback program for specialized corporate headquarters or campus facilities, a new asset class for First Industrial Realty Trust, Inc.